Molson Coors Beverage Company · NYSE:TAP
Molson Coors Beverage — Q2 2023 Earnings Presentation
20 slides from Molson Coors Beverage's earnings presentation, Aug 1, 2023
Slide 1: FY 2023 Results & Outlook
MOLSO COORS FY 2023 RESULTS & OUTLOOK
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Generally, the words "expects," "intend," "goals," "plans," "believes," "continues," "may," "anticipate," "seek," "estimate," "outlook," "trends," "futur
Slide 3: Gavin Hattersley, Chief Executive Officer
Chief Executive Officer Gavin Hattersley 3
Slide 4: Best quarter of reported net sales revenue since 2005 merger
Molson Coors just finished the single best quarter of reported net sales revenue since the merger of Molson and Coors in 2005. 4
Slide 5: Investment in core brands delivered sustainable growth
INVESTMENT IN CORE BRANDS DELIVERED SUSTAINABLE GROWTH +1.04 (0.15) (0.10) (0.11) (0.45) (0.46) 2019 2020 2021 2022 Q1 2023 Q2 2023 Note: Represents dollar share of U.S. industry percent change versus prior year per Circana 5
Slide 6: Investment in core brands delivered sustainable growth
INVESTMENT IN CORE BRANDS DELIVERED SUSTAINABLE GROWTH +1.04 +0.83 +0.04 +0.09 (0.15) (0.10) (0.11) (0.32) (0.20) (0.27) (0.45) (0.46) 2019 2020 2021 2022 Q1 2023 Q2 2023 Note: Represents dollar share of U.S. industry percent change versus prior year per Circana 6
Slide 7: Deep dive on second quarter trends
DEEP DIVE ON SECOND QUARTER TRENDS #1 in retail display dollar gains year-to-date Spring shelf reset conversations are underway, some retailers have moved up their resets to Fall Strong on-premise demand, gaining over 12,000 U.S. tap handles in the quarter Grew sales at double the rate of th
Slide 8: Growing volume and share globally and across regions
GROWING VOLUME AND SHARE GLOBALLY AND ACROSS REGIONS United States Molson Coors was the top dollar-share gainer nationally, with three of the top- five franchises in the quarter. Every one of our top-five U.S. brands grew dollar share in the quarter. Canada Double-digit brand volume growth in
Slide 9: Proving this business can grow the top and bottom line sustainably
Proving this business can grow the top and bottom line sustainably 9
Slide 10: Consolidated second quarter fiscal year 2023 results
CONSOLIDATED SECOND QUARTER FISCAL YEAR 2023 RESULTS Q2 2023* % CHANGE NET SALES REVENUE $3,267 +12.1%** UNDERLYING INCOME BEFORE INCOME TAXES*** $502 +52.6%** UNDERLYING EARNINGS PER SHARE*** $1.78 +49.6% YTD UNDERLYING FREE CASH FLOW*** $570 +98.3% NET DEBT TO UNDERLYING EBITDA*** RATIO AS OF JUNE
Slide 11: Consolidated Q2 2023 revenue and volume
CONSOLIDATED Q2 2023 REVENUE AND VOLUME NET SALES REVENUE BRAND VOLUME (CONSTANT CURRENCY)* (HL IN MILLIONS) +5.0% +12.1% 21.7 22.8 Price Volume Mix Q2 22 Q2 23 Strong global net pricing due to Financial volume increased Brand volume increased 5.0% driven by strength in our Americas business rollove
Slide 12: Consolidated Q2 2023 underlying COGS/HL
CONSOLIDATED Q2 2023 UNDERLYING COGS/HL UNDERLYING COGS/HL* UNDERLYING COGS/HL DRIVERS* (CONSTANT CURRENCY) Employing our levers to help mitigate +5.9% the impact of inflation Pricing Premiumization Hedging Volume Leverage Cost savings (favorable) Q2 22 Q2 23 Inflation & Other** Mix (unfavorable) (u
Slide 13: Americas: Q2 2023 results
AMERICAS: Q2 2023 RESULTS Q2 2023* YOY % CHANGE YOY GROWTH IN NSR & NSR/HL ON A FINANCIAL NET SALES REVENUE $2,622 +11.5%** VOLUME BASIS FOR U.S. AND CANADA** UNDERLYING INCOME BEFORE INCOME TAX*** $488 +40.0%** FINANCIAL VOLUME 17.4 5.0% BRAND VOLUME 16.9 8.0% 17.1% 10.8% Positive net pricing and f
Slide 14: EMEA & APAC: Q2 2023 results
EMEA & APAC: Q2 2023 RESULTS Q2 2023* YOY % CHANGE YOY GROWTH IN NSR & NSR/HL ON A FINANCIAL NET SALES REVENUE $649 +14.7%** VOLUME BASIS FOR EMEA & APAC** UNDERLYING (LOSS) BEFORE INCOME TAX*** $64 +82.7%** FINANCIAL VOLUME 6.0 -3.0% BRAND VOLUME 5.9 -2.9% 18.3% 14.7% Net Sales/HL grew 18.3%** driv
Slide 15: Cash Flow & Investment Priorities
We reduced our Net Debt by $308 million since December 31, 2022, ending the quarter with Net Debt of $5.7 billion Underlying Free Cash Cash Flow & Molson Coors declared a quarterly Flow was $570 million for the first six dividend of $0.41 per share, an months of the year, an improvement of Investmen
Slide 16: Reduction in Debt Leverage
Given our strong Underlying Our capital allocation EBITDA performance and priorities include lower Net Debt, our Net Debt investing in our business, to Underlying EBITDA ratio as reducing Net Debt and of quarter-end reached our returning cash to longer-term leverage ratio shareholders. target of 2.5
Slide 17: Raising Our 2023 Key Financial Guidance
Raising Current High-Single Digit Prior Our 2023 Net Sales Revenue, on a constant Low-Single Digit currency basis Growth Growth Underlying Income Before Income Low-Single 23% to 26% Key Financial Taxes, on a constant currency basis Digit Growth Underlying Free Cash Flow $1.2B +/- 10% $1B +/- 10% Gui
Slide 18: Proud and Confident
PROUD of our performance, our strong portfolio of brands across all price segments and our financial flexibility that enables us to continue to invest prudently in our business CONFIDENT in our ability to sustainably deliver top and bottom-line growth in 2023 and beyond 18
Slide 19: Questions & Answers
Questions & Answers 19
Slide 20: Molson Coors
MOLSON COORS finray
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